Mr. Ian McGavney reports

COLIBRI ANNOUNCES CLOSING OF FIRST TRANCHE OF ITS NON-BROKERED PRIVATE PLACEMENT

Colibri Resource Corp., further to its news release of Jan. 31, 2025, has closed, subject to final TSX Venture Exchange acceptance, a first tranche of its previously announced non-brokered private placement of units for aggregate gross proceeds of $140,400.

Colibri has issued 5,616,000 units at a price of 2.5 cents per unit. Each unit comprises one common share and one common share purchase warrant of the company. Each warrant entitles the holder to acquire one additional common share of the company at a price of five cents for a period of 24 months following issuance. No insiders participated in this tranche of the offering.

The common shares and warrants are subject to a statutory hold period expiring on the date that is four months and one day after closing. In connection with the closing of this tranche, the company has agreed to pay a finder's fee of $1,500 and issued 60,000 finder's warrants to an arm's-length party. Each finder's warrant entitles the holder to acquire one common share of the company at a price of five cents for a period of 24 months following issuance. The finder's fee is subject to exchange acceptance.

As disclosed in its news release of Jan. 31, 2025, the proceeds of the offering are expected to be applied as follows: approximately 20 per cent for upcoming exploration expenses at Colibri's highly prospective precious metals projects in Mexico, including the Pilar gold project and the EP gold project; 65 per cent for arm's-length creditors, including payment of interest expenses on outstanding loans; and up to 15 per cent to non-arm's-length parties, as reimbursement for expenses paid on behalf of the company by the non-arm's-length parties. No proceeds are being used for investor relations activities. The company will be relying on appropriate exemptions from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, for payments to non-arm's-length parties.

The company anticipates completing a second tranche of the offering within the next few weeks.

Final closing of the offering (including any second tranche) is subject to acceptance of the TSX Venture Exchange.

About Colibri Resource Corp.

Colibri is a Canadian-based mineral exploration company listed on the TSX Venture Exchange (symbol CBI), and is focused on acquiring, exploring and developing prospective gold and silver properties in Mexico. The company holds four high-potential precious metal projects: (1) 100 per cent of EP gold project in the significant Caborca gold belt, which has delivered highly encouraging exploration results and is surrounded by Mexico's second-largest major producer of gold on four sides; (2) 49-per-cent ownership of the Pilar gold and silver project, which is believed to hold the potential to be a near-term producing mine; and (3) two highly prospective interests in the Sierra Madre (the Diamante gold and silver project, and the Jackie gold and silver project).

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